ITO, New Delhi V. Shri Amit Bansal, New Delhi

ITA 5446/DEL/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6316 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 21-03-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 26-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KK JASWAL
• Assessee Lawyers: APPLICATION REJECTED
• Keywords: Tax effect
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: A NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SH.PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A .NO.-5446/DE L/2012 (ASSESSMENT YEAR-2008- 09) ITO, WARD-47(2), ROOM NO.-425, MAYUR BHAWAN, NEW DELHI (APPELLANT) VS AMIT BANSAL, 3/446, PATHAN PURA, SHAHDARA, BHOLA NATH NAGAR, NEW DELHI. PAN-AFWPB9153J (RESPONDENT) APPELLANT BY SH.K.K.JASWAL, DR RESPONDENT BY APPLICATION REJECTED ORDER PER DIVA SINGH, JM THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AS SAILING THE CORRECTNESS OF THE ORDER DATED 24.08.2012 OF CIT(A)-XXX, NEW DE LHI PERTAINING TO 2008-09 ASSESSMENT YEAR ON THE FOLLOWING GROUNDS: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.10,38,000/- AS RIGHTLY MADE BY THE AO ON ACCOUNT OF UNEXPLAINED CASH DEPOSITS U/S 68 O F THE I.T.ACT WHICH REMAINED UNEXPLAINED. 2. THE APPELLANT CRAVES THE RIGHT TO ALTER, AMEND, ADD OR SUBSTITUTE THE GROUNDS OF APPEAL. 2. AT THE TIME OF HEARING, AN ADJOURNMENT PETITION WAS MOVED ON BEHALF OF THE ASSESSEE WHICH WAS REJECTED. LD. SR. DR, MR.K.K.JA SWAL WAS REQUIRED TO ADDRESS THE MAINTAINABILITY OF THE DEPARTMENTAL APPEAL IN V IEW OF THE LATEST CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015 OF CBDT. CONSIDERING THE SAME IN THE FACTS ON RECORD, THE LD. SR. DR FAIRLY CONCEDED THAT THE DEPARTMENTAL APPEAL HAS BEEN FILED WHEREIN THE TAX EFFECT INVOLVED IS M UCH LESS THAN RS.10 LAKH. DATE OF HEARING 21.03.2016 DATE OF PRONOUNCEMENT 22.03.2016 I.T.A .NO.-5446/DEL/2012 PAGE 2 OF 2 3. WE HAVE HEARD THE SUBMISSIONS OF THE PARTIES ON THIS ISSUE AND PERUSED THE MATERIAL ON RECORD. WE FIND THAT THE CBDT VIDE THE AFORESAID CIRCULAR DATED 10.12.2015 HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FILING THE APPEAL BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL . PARA 3 OF THE AFORESAID CIRCULAR HAS BEEN MADE APPLICABLE VIDE PARA 10 RETR OSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BOARDS INSTRUCTIO NS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX A CT, 1961 ARE BINDING ON THE AUTHORITIES, WE DISMISS THE DEPARTMENTAL APPEAL CON SIDERING THE MATERIAL AVAILABLE ON RECORD. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22 ND MARCH, 2016. SD/- SD/- (PRASHANTMAHARISHI) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 22/03/2016 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT NEW DELHI